Samsung’s Crypto Move for 82M Phones: Send Money to 60+ Countries!
Samsung’s new feature, planned to cover 82 million Galaxy devices in the U.S., will let users send USDC through Samsung Wallet to eligible bank accounts in more than 60 countries.
According to a company statement cited by The Block, the service, available through Samsung Wallet and Samsung Pay, is planned to launch for eligible Galaxy users in the U.S. in the last week of October. Cross-border transfers using USDC, a stablecoin that tracks the value of the U.S. dollar, will be integrated into the phone’s existing wallet rather than requiring a separate crypto app.
Users will be able to send USDC to compatible external wallets or transfer it to bank accounts in supported countries. Funds sent to a bank account will be delivered to the recipient in the local currency.
International Transfers Without Downloading a New App
Woncheol Chai, head of Samsung’s digital wallet team, said the company wants to make sending money abroad as easy as using the wallet on a phone. Eligible users will not need to download another app or manage the private keys used to access crypto assets themselves.
Solana will be used for USDC transfers, with Solana and Sui infrastructure powering the system behind the scenes. The service’s infrastructure partners also include Bastion, a U.S.-licensed stablecoin custodian.
Fees and Countries Where the Service Will Be Available
Samsung said it will not charge fees for transfers. However, the recipient’s wallet or exchange may charge a fee. Fees for transfers to bank accounts may vary depending on the destination country, and transfer speeds will also depend on network conditions.
Coinbase Prime will provide custody for USDC held in Samsung Wallet. The new feature expands the companies’ partnership, which lets Galaxy users in the U.S. fund their Coinbase accounts with Samsung Pay.
The service will first be made available to eligible users in the U.S. Samsung plans to expand the transfer service to other markets if local regulations permit.